Gold Slips 0.5%, Silver Tumbles 3.3%

Gold Changed Slightly This Week
Gold retreated from a more than 6-year high Tuesday, Jan. 28

Precious metals futures divided Tuesday with platinum and palladium posting gains and gold and silver logging losses.

Gold for February delivery declined $7.60, or 0.5%, to settle at $1,569.80 an ounce on the Comex division of the New York Mercantile Exchange.

"We like that there has been no sign of the ‘throwing-the-baby-out-with-the-bathwater’ selling in gold that happened during some other equity market corrections. People on those occasions were taking profits after a rally in gold to pay for margin calls in other weak positions," MarketWatch quoted Jasper Lawler, head of research at London Capital Group, in a note. "This time, so far at least, they are holding on to gold."

Gold futures ranged from a low of $1,566.10 to a high of $1,582.20. They rose 0.4% on Monday, marking their highest close since April 9, 2013.

Silver for March delivery tumbled 59.8 cents, or 3.3%, to settle at $17.458 an ounce. Silver futures traded between $17.42 and $18.12. They lost 0.3% on Monday.

In other precious metals prices on Tuesday:

  • April platinum added $3.30, or 0.3%, to $995 an ounce, ranging from $983.20 to $996.90.

  • Palladium for March delivery rose $11.50, or 0.5%, to $2,185.10 an ounce, trading between $2,151.20 and $2,240. Last Wednesday, palladium scored a record settlement of $2,335.60 an ounce.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:

  • Gold declined $6.10, or 0.4%, to $1,574 an ounce.
  • Silver fell 32 cents, or 1.8%, to $17.975 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales remained unchanged according to available figures from the Mint’s website. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Tuesday / This Week November December 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 8,000 2,000 19,500
$25 American Eagle 1/2 Oz Gold Coin* 0 5,000 0 13,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 14,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 45,000
$50 American Buffalo 1 Oz Gold Coin 0 5,000 1,500 10,500
$1 American Eagle 1 Oz Silver Coin 0 463,000 0 2,298,000


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i just noticed, the u.s. mint has placed a price on the new platinum eagle to be released on thursday. it is $570 above spot. did they rework the pricing tables?
yesterday 1 ounce platinum was $1420, today the price on the same coin is $1545. why? it should have went down to $1370 because spot platinum has dropped the last 6 days.